Buffer Finance launches LeaderBoard for its incentivized Testnet
Paper trade options and win weekly rewards from the 200K $iBFR price pool.
Following our community-building roadmap, we are glad to announce another milestone towards our goal to make options trading simple and accessible to everyone on the web 3.0.
Why we launched Incentivized Testnet?
We have launched incentivized Testnet to allow anyone to learn trading options without risking their hard-earned money. With incentivized Testnet, you can buy put and call options at a custom strike price for any amount of BNB with up to 4 weeks of expiration. You can use testnet to build your options trading strategy and understand what works and what doesn’t in the real market risk-free.
You can learn more about getting started with BSC testnet and basic usage of buffer’s options trading platform.
Introducing Leaderboard
To further improve the learning outcome, we have gamified paper trading of options through the leaderboard, where traders can win $iBFR tokens by placing profitable trades. The score is calculated using the below formula → higher the score; Better is the rank.
Score = (Total P&L generated per option)*(Average premium paid per option)
Winners shall be announced weekly based on their weekly score tally.
Update 12 July 2021: 100 has been added to the above score for everyone
Rewards
The total reward pool for the Leader Board is kept at 200K $iBFR; to be distributed weekly among the top options traders and community members highlighting bugs or suggesting new features and UI changes.
- Options traders: Weekly top 5 option traders will be chosen based on the score they achieve with their weekly trades → starting from 5th July GTM 5:30 PM.
Update 19 July 2021: Total winners have been increased from 5 to 15
2. Tweet Suggestions: Tweet feature requests, UI suggestions, or bugs by tagging @Buffer_Finance on Twitter and share the tweet on our discord server’s #testnet channel. We will be selecting top tweets on weekly basis starting from → 5th July 2021 GMT 5:30 PM
Update 19 July 2021 : There will 10 winners for Tweet suggestions every week with total allocation of 5K $iBFR
Token Rewards Vesting
Please note that all the rewards earned will be subject to vesting and 10% of the total rewards won will be avialble before our public listing.
We will be announcing detailed tokenomics and corresponding vesting period soon.
What’s NEXT
- Addition Leaderboard reward pool: Currently reward pool has been kept only for the option traders and community members suggesting changes and improvements but, in the coming week, we will be adding more reward pools like →liquidity providers, bear option traders (Who make a profit from put options), bull option traders (Who make profit from buying call options)
- The Buffer Option’s academy: We will also be starting small giveaways for community members who want to learn options traders by organizing small option quizzes and regularly releasing content to learn options trading.
- The Seed-sale: We will also be announcing our first seed sale of $iBFR tokens for our initial community members soon.
About Buffer
Buffer is a non-custodial on-chain peer-to-pool options trading protocol that works just like an Automated Market Maker (eg: PancakeSwap) where traders can create, buy, and settle options against liquidity pool without the need of a counterparty (option writer). Buffer makes options trading accessible to everyone and much more efficient than its centralized counterpart.
Important links
- Discord server → https://discord.gg/Hj4QF92Kdc
- Telegram group → https://t.me/bufferfinance
- Twitter (DM open) → https://twitter.com/Buffer_finance
- Medium → https://buffer-finance.medium.com/
- Website → https://www.buffer.finance/
- Testnet → https://testnet.buffer.finance/
